To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare City Index vs CMC Markets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. CMC Markets received a rating of 5 stars over City Index's 4.5 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. City Index alongside CMC Markets are regulated in a major hub. City Index alongside CMC Markets are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. CMC Markets boasts an offering of 183 different currency pairs compared to City Index's 84 available pairs.
To round out our comparison of City Index vs CMC Markets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. City Index offers Meta Trader while CMC Markets does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. City Index offers its clients access to 25 charting tools while CMC Markets has 24 charting tools, a difference of 1. City Index boasts an offering of 139 different indicators (for example, moving averages) compared to CMC Markets's 81 available indicators.
Overall, CMC Markets takes the upper hand with 4.5 stars over City Index's 4 stars. And, when it comes to individual category awards, neither City Index nor CMC Markets were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.